Your home is your castle, your own little piece of the American dream. But lately, your little corner of the world has been feeling cramped and you find yourself eyeing those larger homes. Is it time to pull up stakes and move on from your starter home?

Growing Family
If you’ve added to your family in recent years, you may have more bodies than bedrooms. A two-bedroom home may have been a great idea when it was just you and your spouse, but with two kids, you’re starting to have turf wars over the play area.

Overflowing With Stuff
From an overflowing toy chest to closets packed so tightly with shoes and coats you risk an avalanche every time you open the door, your home just doesn’t have the space to keep all your things. You may have even had to move some things off-site, spending money to rent storage space to keep that antique dresser your grandmother left you.

No Rest For The Weary
You’d love to spend an afternoon soaking in the tub, but before the warmth of the water can take you away, there’s a banging on the door of the only bathroom in the house and a chorus of “hurry up!” invading your quiet time. And the man cave you dreamed of? Those visions of a big screen television were shattered by the realization you needed somewhere for the kids to sleep.

No Room For Extras
When you first moved in, the two-car garage doubled as your woodworking shop. Now, the equipment has been sent to storage to make room for the family’s second car. You’d love to take up organic gardening, but your tiny yard barely has room for a grill and a lawn chair. You’d love to host your friends visiting from out of state, but there is hardly room for their luggage, much less them.

Changes In Career
You may have opted for a starter home when you first entered the market because you had a smaller income. Now, thanks to changes in careers or promotions at work, you can afford a home with greater square footage and room for your growing family that will provide the space you need for many years of happy memories.

Home prices across the country are starting to rise. Contact me today and take advantage of the opportunity to give your family the most space at the best price now. JanaiRealtor@gmail.com or call/text 760-390-6330.

1. Have 3-5 open lines of credit. An open line of credit constitutes a mortgage, car payment, student loan, personal loan, or credit card. You can not purchase a home without having at least 3 open lines of credit.

2. Maintain activity on all lines of credit. Many people don’t realize that not using your credit can actually damage your score. If you have a credit card that is paid off, but is still open, use if every couple months to buy something. I usually suggest designating one card to gas for the entire month. The following month switch to the other credit card.

3. Keep the balance on all credit cards at half or less than half of the entire available credit amount. This is difficult for many individuals to maintain in today’s economy; however it is better to have multiple credit cards with only half the balance than to have one credit card that is maxed out.

4. If you have to default on payments, never default on a mortgage payment. Although, not ideal, it is much better to have late payments on a credit card or car payment rather than your mortgage.

5. Do not inquire into your credit more than you have to. Every time you run your credit score, you are running the risk of decreasing your score. If for some reason you need to run your credit score multiple times, try to run it within a three day period as this is less noticeable than if you were to run it every couple of weeks. For instance, if you are going to buy a new car and want to know the interest rate that the dealer will charge and the interest rate that the credit union will charge; have both the dealer and the credit union run your credit the same day. This merely shows you were shopping for the best rate, rather than seeking tons of credit. If you want to know your credit score for your own curiosity, freecreditreport.com offers a monthly subscription – you can run your score multiple times, and the inquiry will not count against your score.

6. If you are looking to make a large purchase… such as buying property, do not go buy a car or rack up your credit card in charges, especially once you open escrow. Any large changes to your credit will negatively affect your score, this is inclusive of opening a new credit card.

7. Be cautious when opening and closing accounts. Every time you open a new line of credit you are taking the risk of decreasing your score. Why? A new line of credit has little to no payment history; therefore the creditor is unaware as to whether you make regular scheduled payments or not. The longer history a line of credit has, the better it reflects on your credit. For instance, a credit card that has been opened since you were 18, with up to date payments, is helping your credit score increase. A credit card that was opened last month is a risk. For the same reason, be cautious when closing accounts, especially if the account has been open for a long time.

8. Avoid Bankruptcy. Bankruptcy remains on your credit score for 7 years, sometimes longer if you don’t make sure that it is removed. They tend to have a more negative affect to your credit score the first few years. I suggest to consult an attorney in regards to Bankruptcy information.

9. Avoid Collections and Charge Offs. There is a lot of information that pertains to collections and charge offs, but for today’s article I am going to keep it short. It is very simple….One collection for as little as $5.00, can decrease your credit score by 100 points or more. Remember this. Now, a collection although it can destroy your credit score, can also be disputed, reduced, negotiated, and settled to lessen the destruction.

10. Check your credit score. Many people never check their credit score until they have to, not realizing that there could be information that is irrelevant to them. I have known a number of clients who have had negative information reported on their credit report that did not belong to them. For instance, information from someone who has a similar name, address, and/or social security number could be accidentally recorded onto your credit score.

If this happens to you, don’t worry. It is very simple to fix. All three credit bureaus: Transunion, Experian, and Equifax, now offer an online, “step by step”, service where you can dispute any negative information that is illegitimate. They will investigate the account, and make the appropriate changes; however keep in mind that Transunion will not go to Experian and advise them of the change, this is up to you. You will have to make sure all three bureaus are notified.

All information above is based on my previous experience and information obtained from resources such as NSDCAR. The above information can be helpful to increase your credit score, but is not guaranteed.

If you’re new to home buying or a little rusty in the department, you might not think about some of the do’s and do not’s while you’re in escrow. If you’re quick to open a new credit card to save 15% off at a store, or constantly transferring money back and forth between accounts, you’ll have to think twice about that during those 30-45 days. Here are a few quick tips to keep your transaction on track:

The DO’s:

Keep an eye out for emails with any conditions, requests, or documents that need to be signed. Everything is extremely time sensitive and normally the window of response to ensure an efficient close of escrow is 1 business day or less.

Read all emails thoroughly to ensure you do not miss any details.

Respond to voicemails at your earliest convenience, so any urgent requests or circumstances can be conveyed as quickly as possible.

Once you receive your Closing Disclosure from your loan office, please send it to your real estate agent so they can ensure all credits and financial terms agreed to during the transaction are accounted for.

The DO NOT’s:

Open or apply for ANY form of credit without advice from your loan officer first.

Charge anything on your credit beyond the normal daily uses now.

Close any lines of credit without advice from your loan officer first.

Change jobs or quit your current job.

Move money between accounts or make any large deposits (in excess of $500) without advice first.

Close any financial accounts without advice from your loan officer first.

Give Landlord notice without consulting your loan officer.

Set up a date with a moving company without consulting your loan officer.

If you pay attention to these tips, it will help to ensure a smooth process for everyone!

Here is a simple chart that breaks down the steps of the loan process:

Please let me know if you have any questions. I also can recommend some great loan officers if you would like to get pre-qualified to look for a home. None of the service providers I recommend give me a kickback. I just know they do a great job!

Happy June! Here is my housing trends newsletter with May statistics. This newsletter includes national and local housing information that I hope you find useful. Please feel free to contact me with questions 858.376.7117 or janai@bentleysd.com.

National Market Update

Existing-Home Sales Lose Momentum in April

WASHINGTON (May 21, 2015) — Despite properties typically selling faster than at any time since July 2013, existing–home sales slowed in April but remained above an annual sales pace of five million for the second straight month, according to the National Association of Realtors®. All major regions except for the Midwest experienced sales declines in April. Read more

Owners Place High Value on Good Yards

Don’t underestimate the importance of a beautiful yard to home owners and their neighbors. 84 percent of adults say that the quality of a home’s landscape and yard would affect their decision on whether to purchase a home or not, according to a new survey of more than 2,000 adults conducted by the National Association of Landscape Professionals. Read more

National Housing Indicators

Existing home sales (May) 5.04 millions units*

Existing home median price (May) $219,400

Housing Starts (May) 11.35 millions units*

New home sales (May) 4.81 millions units*

National Economic Indicators

Home ownership

The homeownership rate in the first quarter 2015 was 63.7 percent, down 1.1 (+/- 0.4) percentage points from the first quarter 2014 rate of 64.8 percent. The homeownership rates in the Northeast, South and West were lower than the rates in the first quarter 2014, while the rate in the Midwest was not statistically different from the rate a year ago.

New home sales

Sales of new single-family houses in March 2015 were at a seasonally adjusted annual rate of 481,000. This is 11.4 percent (+/- 18.6%)* below the revised February 2015 estimate of 543,000.

Regional Market Updates

Click on the links below to information on local prices & state sales from any of 150 metropolitan housing markets prepared by the National Association of REALTORS®.

I was thinking this morning about some of the questions and comments I receive now that I am a licensed Realtor. So, I got to the core of them and listed 4 things that I hope will boost your real estate knowledge!

1) All Realtors have the same access to properties:

I am a member of San Diego County’s MLS (multiple listing service). That means I have access to information about every property that is being sold in San Diego County AND I can show the property to any interested buyers.

2) A home doesn’t have to be listed with me before I can show it:

This is basically the same as number 1 but I have had a lot of friends ask me to send them my listings. Well, right now I am specializing as a buyers agent, so I don’t have any homes listed under my name. I can show any home or even vacant land within San Diego County, and if it is outside of the county or in another state, I can help by interviewing and connecting you with the best agent in the area you are looking.

3) As a buyer, using a Realtor is FREE:

A Realtor representing the buyer is paid at the end of the process after the home is yours, and they are paid by the seller. This is how it works… When someone lists their home to be sold, they agree to a commission rate with the Realtor they are listing the home with. That commission is then split between the person who sells the home (the agent they list with) and the person who brings the buyer to them (agent representing the buyer).

4) What is the difference between a broker, real estate agent, and a Realtor?

Real estate agent: Anyone who earns a real estate license can be called a real estate agent. State requirements vary, but in all states you must take a minimum number of classes and pass a test to earn your license. The agent then picks a brokerage to work under.

REALTOR®:Another name for a real estate agent, BUT it also means that agent is a member of the National Association of REALTORS®. They pay a fee to be a member of their local board, state and national associations and must uphold the standards of the association and its code of ethics. For example, although the primary responsibility of an agent is to his or her client, Realtors promise never to mislead or withhold information from anyone involved in the real estate transaction — including the other real estate agent and his or her clients.

Real estate broker:A person who has taken education beyond the agent level as required by state laws and has passed a broker’s license exam. Brokers can work alone or they can hire agents to work for them.

Real estate salesperson:Another name for a real estate agent.

What other questions do you have? I’d be happy to answer them for you – 858.376.7117; janai@bentleysd.com.

I know there are many tips online for how to save money on big ticket items. After reading articles on when to purchase plane tickets to secure the lowest fare, I decided to research the best time to buy home appliances. If there is a bargain to be found, I will find it! In an article by Houselogic, I found my answers…

When it comes to landing bargains on major appliances, timing is everything. And the best time to buy home appliances is when stores need you more than you need a new home appliance:

September, October, and January when manufacturers roll out new home appliance models, and retailers are eager to move last year’s inventory. (Refrigerators are the exception. New models come out in the spring.)

Last days of the month when stores are desperate to meet quotas and are more likely to dicker over prices.

Thursday, the day before the weekend rush when aisles are less crowded.

Welcome to my March housing trends newsletter! This newsletter includes national and local housing information that I hope you find useful. Whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general, I think you’ll find some great resources here! Contact me anytime with questions.

National market update

WASHINGTON (March 23, 2015) – Existing-home sales increased modestly in February, but constrained inventory levels pushed price growth to its fastest pace in a year, according to the National Association of Realtors®. Read more

The spring home-buying boom is underway, and this year buyers in some markets will face an increased amount of competition due to low housing inventory. In fact, the most recent existing-home sales report from the National Association of REALTORS® cautions that “Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices.” Read more

National economic indicators

The homeownership rate in the fourth quarter 2014 was 64.0 percent, down 1.2 (+/- 0.4) percentage points from the fourth quarter 2013 rate of 65.2 percent. The homeownership rates in the Northeast, Midwest and South were lower than the rates in the fourth quarter 2013, while the rate in the West was not statistically different from the rate a year ago.

New home sales

Sales of new single-family houses in February 2015 were at a seasonally adjusted annual rate of 539,000. This is 7.8 percent (+/- 15.2%)* above the revised January 2015 estimate of 500,000.

Source: U.S. CENSUS BUREAU

How much is your home worth? Get a real-time report on the value of your home. Start now

Regional market updates

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 150 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states.

Here is the latest housing trends newsletter! It is designed with national and local housing information that I hope you find useful. Whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general, I think you’ll find some great resources here. Click here to view the full newsletter.

National market update

WASHINGTON (February 23, 2015) – Existing-home sales declined in January to their lowest rate in nine months, but the pace was higher than a year ago for the fourth straight month, according to the National Association of Realtors®. All major regions experienced declines in January, with the Northeast and West seeing the largest. Read more

WASHINGTON (February 11, 2015) – The majority of metropolitan areas experienced steady but slightly stronger price growth in the fourth quarter of 2014, behind a decline in housing supply and an uptick in demand fueled by lower interest rates and a stronger job market, according to the latest quarterly report by the National Association of Realtors®. Read more

National economic indicators

Home ownership

The homeownership rate in the fourth quarter 2014 was 64.0 percent, down 1.2 (+/- 0.4) percentage points from the fourth quarter 2013 rate of 65.2 percent. The homeownership rates in the Northeast, Midwest and South were lower than the rates in the fourth quarter 2013, while the rate in the West was not statistically different from the rate a year ago.

New home sales

Sales of new single-family houses in January 2015 were at a seasonally adjusted annual rate of 481,000. This is 0.2 percent (+/- 22.2%)* below the revised December 2014 estimate of 482,000.

Source: U.S. CENSUS BUREAU

Regional market updates

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 150 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states.

Buying a home can seem like a daunting task, especially if it is your first time. My goal is to provide support and information to make the process easier. Below I answer some frequently asked questions. Please feel free to contact me anytime!

What do I do first? Before looking for a home, it is important to get pre-qualified/approved to determine your price range, down payment amount, and estimated settlement charges. Lenders use different variables including income, debt load and credit scores to determine how much a potential buyer can take out as a mortgage. Then, it is important to decide if you are comfortable with the amount you will be paying monthly at that price.

What is the difference between pre-qualification and pre-approval?
• Pre-qualification is an informal way to see how much you may be able to borrow. It can be done over the phone without documentation by telling a lender your income, debts, and an amount you can provide for down payment.
• Pre-approval is when a lender gives a commitment to lend the money after assembling financial records. It shows sellers you are serious about buying.

Where do I find a loan? Ginnie Mae recommends that first-time homeowners consult with several lenders before applying formally for a loan. Every lender offers different interest rates and fees, and those can impact your monthly mortgage payment. By shopping with different lenders you can find the best possible deal. Consult different types of financial institutions, including mortgage brokers, credit unions, savings and loans, traditional banks and government lenders.
How much money do I need to buy a home? It depends on a number of factors, including the cost of the house and the type of mortgage you get. In general,you are responsible for two upfront costs:
• earnest money – a small deposit you make when you submit your offer to prove to the seller that you are serious about buying the home.
• down payment – a percentage of the cost of the home that you must pay when you go to settlement. Lenders have different requirements for down payments.
The other cost associated with buying a home is closing costs – the costs for processing the paperwork to buy a house. When you make an offer on a home, your real estate agent will put your earnest money into an escrow account. If the offer is accepted, your earnest money will be applied to the down payment or closing costs. If your offer is not accepted, your money will be returned to you. When you apply for your loan, your lender will give you an estimate of the closing costs, so you won’t be caught by surprise.

How much will my REALTOR cost? Most people think they have to pay a sales commission. The truth is this: only the seller pays the commission. Whether a buyer uses an agent or not, the seller still pays the commission, so buyer agent’s services are free to the buyer.

What is the difference between foreclosure and short sale?
• A foreclosure is the last resort for a homeowner when they default on their monthly mortgage payments. The bank or lender initiates foreclosure procedures and eventually repossesses the property. The bank now owns the property and must try to sell it on the open market. A foreclosed home is basically the same process and time frame as purchasing a standard sale home.
• A short sale happens when a homeowner finds themselves falling behind on their mortgage payments and they are sure they will not be able to catch up. Instead of foreclosing, they will try to sell the property for less than the mortgage amount owned. The homeowner will need to get the approval of their bank or lender. Not all lending institutions agree to short sales as they lose out on the total sale price. When a buyer has found a short sale home they want, they must place a bid which will be submitted with the rest of the paperwork to the lender. When the bank or lender decides that all is in order, it will withdraw whatever liens have been put on the property, and the sale can go through. This can take anywhere from 30 days to 6 months.
• Foreclosures and short sales can be purchased at below-market rates, but sometimes the condition of the house, outstanding taxes, or timeline can be a downside.

What is Title Insurance? It provides coverage for certain losses due to defects in that title that, for the most part, occurred before your ownership. Title insurance protects against defects such as prior fraud or forgery that might go undetected until after closing and possibly jeopardize your ownership and investment. The cost varies, depending mainly on the value of your property, but the important thing to remember is that you only pay once.

What is Escrow? Escrow is the process of having a neutral third party manage the exchange of money for real property. In the home buying process, escrow opens when the buyer and seller sign a purchase agreement and the buyer puts down a deposit. Escrow protects all parties involved by making sure that no funds or properties change hands until all conditions in the agreement have been met.

Let me know what other questions you might have by leaving a comment or contacting me via phone call or text 760.390.6330, or email me janai@north-county-homes.com. In the meantime, follow me on Facebook for additional tips and information.

I couldn’t be more excited about the Sherwin-Williams 2015 Color of the Year. The winner is Coral Reef (SW 6606). According to Sherwin-Williams, Coral Reef is “the perfect mélange of pink, orange and red… reminiscent of vintage floral patterns and inspired by the trend for green urban spaces.” This color is uplifting, upbeat, and optimistic.

“Coral Reef embodies a cheerful approach to design that we’re seeing for the coming year. Its unexpected versatility brings life to a range of design aesthetics, whether traditional, vintage, cottage or contemporary,” explains Jackie Jordan, Sherwin-Williams director of color marketing.

Coral Reef is my absolute favorite color. It is bright, beautiful, and can be mixed with many colors that either energize or relax it.

Here are some ideas for how to incorporate this color into your home:

Use it as an accent color for a wall or front door.

Upholster a piece of furniture with coral reef to provide a pop of color in the room.

Pair it with wood and metal finishes to bring out its flower like hue.

Relax this bold color by pairing it with warm neutrals such as Sedate Gray (SW 6169) or buttery yellows like Hubbard Squash (SW 0044).

For vintage quality, Coral Reef and aged matte brass make a perfect pair!

If you are looking for a new home in North County San Diego, or are thinking about selling, please check out my comprehensive website. I can be reached at 760.390.6330 or via email at Janai@North-County-Homes.com. In the meantime, follow me on Facebook! I look forward to hearing your opinion about the 2015 Color of the Year!